美国大选历史重演，比特币准备飙升！

Pantera Capital 是一家专门从事加密货币的投资公司，在其办公室发布了其分析报告“加密货币的未来一年”。

Pantera Capital, a crypto-focused investment firm, has published its analysis “The Year Ahead in Crypto” from its offices. The report draws a parallel between two major events: the launch of the Spot Bitcoin ETFs in January 2024 and the upcoming inauguration of Donald Trump. In both cases, the asset manager anticipates a persistent bullish dynamic, running counter to the tradition of traditional financial markets.

Pantera Capital 是一家专注于加密货币的投资公司，在其办公室发布了其分析报告“加密货币的未来一年”。该报告将两个重大事件进行了比较：2024 年 1 月推出现货比特币 ETF 和唐纳德·特朗普即将就职。在这两种情况下，资产管理公司都预计将出现持续的看涨动态，这与传统金融市场的传统背道而驰。

Recent history seems to support their view. Since the approval of the Spot Bitcoin ETFs, BTC has recorded an increase of over 100% and the funds have attracted over $40 billion in investments. This performance demonstrates that the crypto market can maintain its momentum long after the official confirmation of a positive news.

最近的历史似乎支持他们的观点。自现货比特币ETF获批以来，BTC涨幅超过100%，基金吸引了超过400亿美元的投资。这一表现表明，在官方确认利好消息后，加密货币市场仍能长期保持势头。

The pro-crypto stance taken by Donald Trump reinforces this optimistic outlook. His strategic appointments, notably that of Paul Atkins as head of the SEC and David Sacks as crypto advisor at the White House, reflect a willingness to support the development of the blockchain industry.

唐纳德·特朗普采取的支持加密货币的立场强化了这种乐观的前景。他的战略任命，特别是保罗·阿特金斯 (Paul Atkins) 担任 SEC 主席和大卫·萨克斯 (David Sacks) 担任白宫加密货币顾问，反映了支持区块链行业发展的意愿。

A Macroeconomic Context to Watch

值得关注的宏观经济背景

Although Bitcoin recently took a pause after surpassing $100,000 in December, Pantera attributes this slowdown more to monetary policy than to political uncertainties. The prospect of a slower-than-expected decline in rates by the Federal Reserve and the strengthening of the dollar have temporarily weighed on risky assets.

尽管比特币在 12 月突破 10 万美元后最近出现了停顿，但 Pantera 将这种放缓更多地归因于货币政策，而不是政治不确定性。美联储降息速度慢于预期以及美元走强的前景暂时令风险资产承压。

Several industry experts, including Jack Mallers, CEO of Strike, anticipate strong measures as soon as the new president takes office. The possible signing of a decree recognizing Bitcoin as a reserve asset is among the scenarios discussed, which could trigger a new wave of institutional adoption.

包括Strike首席执行官杰克·马勒斯(Jack Mallers)在内的几位行业专家预计，新总裁一上任就会采取强有力的措施。讨论的场景之一是签署承认比特币作为储备资产的法令，这可能会引发新一轮的机构采用浪潮。

Scott Mason, political advisor at Holland & Knight, emphasizes that Trump’s arrival enhances the legitimacy of Bitcoin among traditional investors. This increased credibility, combined with a potentially more favorable regulatory framework, could catalyze the next phase of the bull market.

Holland & Knight 政治顾问 Scott Mason 强调，特朗普的到来增强了比特币在传统投资者中的合法性。可信度的提高，加上可能更有利的监管框架，可能会促进牛市的下一阶段。

Analysts at Pantera Capital conclude that the American election, far from being a mere speculative event, represents a true structural turning point for the crypto market. The convergence between institutional adoption and political support should, according to them, fuel the rise of Bitcoin.

Pantera Capital 的分析师得出的结论是，美国大选远非纯粹的投机事件，而是加密货币市场真正的结构性转折点。他们认为，机构采用和政治支持之间的融合应该会推动比特币的崛起。

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Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermely que Bitcoin est l'outil qui peut rendre cela possible.

我对比特币充满热情，喜欢探索区块链和加密货币的复杂性，并与社区分享我的发现。我的梦想是生活在一个每个人的隐私和财务自由都得到保障的世界，我坚信比特币是实现这一目标的工具。